Irish bank gears up to sell EUR 1.4bln in property loans

State-controlled lender Allied Irish Banks is mulling the sale of up to EUR 1.4 bn of property loans made on homes, offices and shops across Ireland, according to a news report in the Financial Times.
Potential advisers are pitching for the mandate, expected to make submissions to AIB by the middle of next week. The portfolio is made up of EUR 1.1 bn of commercial property loans, at least half of which are understood to be distressed, the FT said………………………………………..Full Article: Source